Why is Redtape falling/rising?

As of 18-Nov, Redtape Ltd's stock price is currently at 131.70, reflecting a decrease of 1.05, or 0.79%. The stock has been on a downward trend, having lost 4.18% over the last two days and is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Over the past week, Redtape has underperformed significantly, with a return of -1.86%, while the Sensex has gained 0.96%. The company has faced challenges, including negative results for the last three consecutive quarters, with a notable decline in profit after tax and operating cash flow. Despite a high return on capital employed (ROCE) of 16.63% and increased institutional investor participation, the stock's long-term growth prospects appear poor, as evidenced by a low annual growth rate of operating profit and a high PEG ratio of 2.7.
In the broader market context, Redtape's performance has been disappointing compared to the benchmark, with a year-to-date return of -39.71% against the Sensex's gain of 8.36%. This stark contrast highlights the stock's struggle to attract investor confidence, particularly as it has underperformed the market significantly over the past year, generating a return of -35.02% while the broader market has seen positive returns. The liquidity of the stock remains adequate, with a notable increase in delivery volume, but the overall sentiment remains bearish due to the company's recent financial performance and valuation concerns.